ISLAMABAD: The assemblys of Financial Action Task Force (FATF) took place at OECD, Paris from February 17-22, 2019 to review the compliance of a number of countries with the international standards on Anti-Money Laundering and Counter Financing of Terrorism (AML-CFT).Pakistan was earlier placed by FATF in its Ongoing Compliance Document in view of an Action plot undertaken by it to strengthen its CFT Regime.
The FATF reviewed the progress made by Pakistani authorities concerned with CFT role, based upon an analysis carried out by Asia-Pacific Joint Group.
The FATF famous that Pakistan took several steps to implement the Action plot including by undertaking Risk Assessment of Terrorism Financing and Cash Smuggling in the country.
FATF advised Pakistan to take further actions that include detailed assessment of TF Risk, strengthening of AML/CFT supervisory degrees by the regulatory authorities, financial inquiries and investigations into terrorismist funding activities and promotion of awareness among the citizens on CFT degrees and controls.
The FATF shall undertake the next review of Pakistan progress in June 2019 which shall be preceded by Face-to-Face assembly with the Joint Group in May 2019.Tardyr, Finance Minister Asad Umar tweeted, &FATF board reviewed the progress made by Pakistan in strengthening its laws and systems related to curbing money laundering specificly terrorism related financial flows and preserveed Pakistan's current status despite hectic efforts and lobbying to get us black listed.&TheIndianSubcontinent has not verified the content of the source.
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